Piper Sandler Lowers CVRx (NASDAQ:CVRX) Price Target to $12.00

CVRx (NASDAQ:CVRX) had its target price decreased by analysts at Piper Sandler from $20.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 155.32% from the company’s current price.

A number of other brokerages also recently weighed in on CVRX. Lake Street Capital cut their target price on CVRx from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Craig Hallum boosted their price objective on CVRx from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $7.00 target price (down from $15.00) on shares of CVRx in a research report on Friday. William Blair raised shares of CVRx from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of CVRx from $23.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, CVRx currently has an average rating of “Moderate Buy” and an average target price of $14.50.

CVRx Stock Down 39.6 %

CVRX stock opened at $4.70 on Friday. The stock’s 50 day moving average is $9.29 and its 200-day moving average is $12.60. CVRx has a twelve month low of $4.61 and a twelve month high of $18.55. The firm has a market capitalization of $122.47 million, a PE ratio of -1.75 and a beta of 1.39. The company has a quick ratio of 10.23, a current ratio of 12.06 and a debt-to-equity ratio of 0.69.

CVRx (NASDAQ:CVRX) last posted its earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.03. CVRx had a negative net margin of 116.91% and a negative return on equity of 93.06%. The firm had revenue of $12.35 million during the quarter, compared to analyst estimates of $14.68 million. Sell-side analysts expect that CVRx will post -1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On CVRx

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in shares of CVRx by 10,520.1% during the 4th quarter. JPMorgan Chase & Co. now owns 628,286 shares of the company’s stock valued at $7,960,000 after buying an additional 622,370 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in CVRx during the 4th quarter valued at $455,000. Barclays PLC lifted its position in shares of CVRx by 312.5% during the third quarter. Barclays PLC now owns 19,067 shares of the company’s stock worth $169,000 after acquiring an additional 14,445 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of CVRx by 36.1% in the third quarter. Jane Street Group LLC now owns 19,038 shares of the company’s stock worth $168,000 after acquiring an additional 5,053 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in shares of CVRx in the fourth quarter worth $127,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.